Life Insurance Corporation chairman S. K. Roy is of the fact that Corporation which manages assets worth Rs.17 lakh crore is set to regain the 75 per cent market share in premium income this year, the LIC chief said that it has booked a profit of over R.24,000 crore from the stock markets in 2014-15 and “every investment decision happens after due diligence.”
“IOC happened in April and we got 50 per cent and the balance was subscribed by others. In Coal India we got 40 per cent. If you see the OFS of last 14 months we have never got more than 50 per cent of the offered amount,” Roy said. So the question of bailing out doesn’t arise. A bail happens when the entire 100 per cent is taken but there’s no data to support this.